Woodside Energy Group (AU:WDS) has released an update.
Woodside Energy Group Ltd has completed its acquisition of the OCI Clean Ammonia Holding B.V. which includes a lower carbon ammonia project in Texas, with the aim of becoming an early player in the sustainable energy market. The project, expected to start producing lower carbon ammonia by 2026, aligns with global trends forecasting a significant rise in demand for such cleaner energy solutions. Woodside’s investment of approximately $2,350 million anticipates generating cash-positive returns by 2026 and contributes to the company’s commitment to reducing its carbon footprint.
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